Up to date tax/NI calcs on AML

[Mizydoscape]

The maths is hurting my head right now can anyone help? Calculations are ignoring the pennies for ease.

I'm currently on maternity leave and get full pay for 6 months. This finishes on 2nd Feb 2020. I'm then taking 13 weeks AML on SMP. I'm planning to use all 10 KIT days for which I am paid £120 gross per day once I've taken off the loss of that day's SMP. I will take 4 in Feb, 3 in Mar and 3 in Apr. This works out (SMP+KIT):
Feb: £1074
Mar: £1039
Apr: £997

I also pay 5.45% into my pension each month. That will continue to be taken during this period and if it counts a plan 1 student loan which is 9% of all salary above £1577 a month.

How do I work out roughly my deductions during the SMP months so I have an idea how much of my savings I'll need to top up my pay with?

Many thanks for any help!

I would approach this as follows:

First calculate your annual salary if not already known. From your KIT day pay calculation (148.68 SMP /5 = 29.736 + 120 = 149.376 per day), I think you may be on around £39k annual salary.

Then look at your payslip for your tax code. 1250L for example gives you £12,500 of Income Tax allowance... which if split evenly over the year is £1041.66 per month. So lets use £1041 for calculation purposes.

In February you expect to earn £1074, which is above the £1041 allowance that was calculated above. so 1074-1041=£33 on which you pay 20% tax, so £6.60

National Insurance is calculated on your pay in each pay period, so in February £1074 would be (PT=719, so 12% on (1074-719=355)*0.12=£42.60

5.45% pension... you have not said if this is based on QE (Qualifying Earnings) or on full earnings, also salary sacrifice is unknown. Lets use worst case situation which is full earnings, so 5.45% on £1074 = £58.54

Your pay in Feb is not above £1577 so no Student Loan deduction.

So gross pay: £1074
Income Tax: £6.60
National Insurance (class1): £42.60
Pension: £58.54
Net pay: £966.26

That's how I would do a rough calculation, for Feb and you could use the formula for March. April is an unknown as we don't know what the tax rates & thresholds will be then. This method of calculation is not precise and lots of assumptions have been made but it's a rough guide.

@nannynick awesome thanks. That gives me a good ballpark figure.

My company's policy is if I work a KIT day I lose that days statutory pay but they divide the weeks SMP by 7 so you lose 1/7 for working 1 KIT day in a week.

You can use your Personal Tax Account online - search for it on gov.uk. You can update your estimated pay for the gear, and it gives you a picture of how much tax you can expect to pay this year.